Standpoint Research upgraded shares of International Business Machines Corporation (NYSE:IBM) from a hold rating to a buy rating in a research note published on Wednesday, July 19th, Marketbeat.com reports.
Other equities analysts also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) lowered their price target on International Business Machines Corporation from $175.00 to $170.00 and set a neutral rating on the stock in a report on Wednesday, April 19th. Sanford C. Bernstein restated a market perform rating and issued a $150.00 price objective on shares of International Business Machines Corporation in a research note on Wednesday, April 19th. UBS AG restated a neutral rating and issued a $167.00 price objective (down previously from $185.00) on shares of International Business Machines Corporation in a research note on Saturday, April 22nd. Wells Fargo & Company restated a market perform rating and issued a $162.50 price objective on shares of International Business Machines Corporation in a research note on Tuesday, April 25th. Finally, BidaskClub raised International Business Machines Corporation from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. Seven equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $157.40.
International Business Machines Corporation (NYSE:IBM) traded up 0.34% during midday trading on Wednesday, reaching $142.32. 2,248,607 shares of the company’s stock traded hands. International Business Machines Corporation has a 52 week low of $141.19 and a 52 week high of $182.79. The company’s 50-day moving average price is $148.86 and its 200 day moving average price is $162.02. The stock has a market capitalization of $132.63 billion, a price-to-earnings ratio of 11.81 and a beta of 0.97.
International Business Machines Corporation (NYSE:IBM) last released its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.23. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.45 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. On average, equities research analysts expect that International Business Machines Corporation will post $13.74 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, August 8th. This represents a $6.00 annualized dividend and a dividend yield of 4.22%. International Business Machines Corporation’s dividend payout ratio is currently 49.88%.
In other news, Director James W. Owens bought 1,718 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was purchased at an average cost of $153.19 per share, for a total transaction of $263,180.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of IBM. Iberiabank Corp acquired a new stake in International Business Machines Corporation during the fourth quarter valued at approximately $368,000. Massmutual Trust Co. FSB ADV acquired a new stake in International Business Machines Corporation during the fourth quarter valued at approximately $2,409,000. Citizens & Northern Corp boosted its stake in International Business Machines Corporation by 4.7% in the fourth quarter. Citizens & Northern Corp now owns 4,049 shares of the technology company’s stock valued at $672,000 after buying an additional 183 shares in the last quarter. Credit Agricole S A boosted its stake in International Business Machines Corporation by 15.9% in the fourth quarter. Credit Agricole S A now owns 1,306,073 shares of the technology company’s stock valued at $216,798,000 after buying an additional 179,057 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in International Business Machines Corporation during the fourth quarter valued at approximately $421,000. 58.57% of the stock is owned by institutional investors.
International Business Machines Corporation Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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